FarmLead eyes U.S. market with close of $8.7 mln Series A round

FarmLead has raised about $8.7 million (US$6.5 million) in a Series A financing. The round was led by Monsanto Growth Ventures (MGV), the investment arm of Monsanto Co, and joined by Avrio Ventures, MaRS Investment Accelerator Fund and Serra Ventures. With the deal, Kiersten Stead of MGV and Aki Georgacacos of Avrio will join the board. Ottawa-based FarmLead operates a digital marketplace that allows buyers and sellers to list, negotiate and finalize grain deals. The company has since 2013 grown to serve over 4,000 farms. Led by CEO Brennan Turner, it will use the funds raised to expand into the U.S. market and open a Chicago office.

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